The shares are currently selling at a multi-year low -- that last time its shares were that cheap was 5 years ago! As a results, it sports a dividend yield of 4%, it's highest in recent history. Better yet, the company is bringing in plenty of cash to pay for those dividends, and will keep increasing that dividend in the future (although the next increase may be modest).
This spring's surprise miss send the price of its shares into a tailspin. Many consider GE to be a proxy for the US stock market. People are talking of recession, which scares investors. That is usually the time to go looking for bargains. As Warren Buffet says, "Be greedy when others are fearful."
The company has a good position in green products. They are very much present in the alternative energy businesses, such as wind and nuclear power. Electronics, financial services, infrastructure. You name it, they are everywhere.
Many analysts complain that this company is too complex and too big to be easily analyzed. Me, I simply look at the results -- they make money for their (share)owners, and they keep increasing how much money they make. Maybe the company will restructure, sell parts of the business, or spin off some of it. As a shareowner, any of these will probably be positive. If nothing happens, I will keep collecting that 4% dividend. And the market will recover.
The position I initiated is modest -- I don't know if the price is the lowest it will go. If it goes down some more, I may decide to increase my stake in the company.